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I
<br /> 1 Overview of the Financial Statements(continued)
<br /> Governmental Funds(continued)
<br /> IFinancial Analysis:
<br /> Schedules:
<br /> The combining statements referred to earlier in connection with non-major governmental funds
<br /> are presented immediately following the required supplementary information. Combining and
<br /> individual fund statements and schedules can be found in Section F.
<br /> The Annual Schedule of Revenues and Expenditures for Roads, Bridges and Streets is part of
<br /> I the Local Highway Finance Report sent to the State of Colorado (the"State").
<br /> The County uses fund accounting to ensure compliance with finance related legal requirements. The
<br /> County adopts annual appropriated budgets for all its funds in accordance with the requirements of the
<br /> I State of Colorado Budget Law. Budgetary comparison schedules have been provided to demonstrate
<br /> compliance and can be found in sections E and F of this report.
<br /> I Government-wide Financial Analysis:
<br /> As previously mentioned, the government-wide financial statements are designed to provide readers with
<br /> a broad overview and long-term analysis of the County's finances, in a manner similar to a private-sector
<br /> I business. The following graph shows the County's net assets for 2009 and 2008:
<br /> Yuma County's Net Assets:
<br /> IGovernmental
<br /> Activities
<br /> 2009 2008
<br /> Assets:
<br /> Current and other assets $ 23,162,140 20,586,958
<br /> 1 Capital assets, net 35,028,002 35,866,993
<br /> Total Assets 58,190,142 56,453,951
<br /> Liabilities:
<br /> I Other liabilities 14,568,148 13,423,209
<br /> Long-term liabilities 16,203,445 16,181,105
<br /> Total Liabilities 30,771,593 29,604,314
<br /> Net Assets:
<br /> I Invested in capital assets,
<br /> net of related debt 19,405,681 20,226,066
<br /> Restricted for emergencies 390,000 514,000
<br /> I Unrestricted 7,622,868 6,109,571
<br /> Total Net Assets $ 27,418,549 26,849,637
<br /> 1 Traditionally, the largest portion of any county investments is in its capital assets: land, water rights,
<br /> buildings and improvements, equipment, machinery, and specialized tools necessary to deliver and/or
<br /> provide services to the residents. Capital assets of the County account for 60% of its total assets; these
<br /> Iassets are not an available source of payment of future spending.
<br /> The County's net assets increased $568,912 during the current fiscal year. This increase is mostly
<br /> I attributable to expenses being less than anticipated and increased fee-for-service revenues, operating
<br /> grants, property taxes, and severance taxes. In addition, the County recognized a gain of$445,030 on
<br /> the sale of capital assets during the past year.
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